Lopez Holdings Q2 earnings surge by 43%

Lopez Holdings Corp. reported a net income of P1.03 billion in the second quarter, higher by 43% compared with year ago’s P721-million profit attributable to the equity holders of the parent firm, with the stable showing of its energy unit boosting the quarterly results.
“The stable performance of the energy group under associate First Philippine Holdings Corporation (FPH) accounted for the results,” the company said in the statement.
In the first half, Lopez Holdings said net income reached P2.17 billion, up 23.3% from P1.76 billion in the same semester last year.
Lopez Holdings serves as the holding firm of the Lopez family for its investments in major development sectors.
FPH recorded a net income attributable to the parent firm’s equity holders of P1.95 billion, more than three times higher than the P607 million posted a year ago.
In the first six months, FPH registered a net income of P4.05 billion, up 60.7% from P2.52 billion a year ago.
On Tuesday, shares in Lopez Holdings fell 2.06% to close at P4.27 each, while those of FPH declined by 0.32% to P63.20 apiece. First Gen shares slipped by 0.38% to P15.90 each. — Victor V. Saulon